Kiwi independent retailers lead worldwide
New Zealand’s independent retailers are punching above their weight class, according to research by retail software company Vend.
According to the 2019 Retail Benchmarks Report, Kiwi independent retailers average a higher monthly revenue per store and enjoy a higher average transaction numbers per store than all other markets in the report, including the United States and Australia.
Alcohol vendors and sporting goods stores saw the highest gross revenue per month at $79,210 and $54,707, while cosmetics and beauty stores saw the lowest average revenue per month at $17,234.
“New Zealanders are clearly choosing to shop with independent retailers, which is a testament to the unique products and experiences local boutiques can offer,” Vend founder Vaughan Fergusson said.
“We’re seeing proof that the physical, bricks-and-mortar segment of retail is crucial to success. Customers crave a great in-store experience where they can touch and feel beautifully curated product ranges.”
New Zealand independent retailers average monthly store revenue reaches $32,751, followed by the US at $32,732, and Australia at $32,661 per store.
Transactions per store, per month, reached 559 in New Zealand, 554 in the United Kingdom, 499 in North America, and 447 in Australia.
The report also found that New Zealand independent retailer’s average gross profit margin landed just above 52 per cent, tying with Australia and the UK, while slightly behind US margins of 53.46 per cent.